Oil only accounts for half the cost of a gallon of gas. Here's where the rest comes from.
Petrol
The oil supply shock from the Iran war is directly impacting what Americans pay to fill up their cars, with gasoline prices up an average of roughly 60 cents since hostilities erupted on February 28. But just how much does the cost of oil factor into how much drivers pay to fuel up? "The price of oil, which is market-determined, is the biggest, movable determiner," of gas prices, Patrick De Haan, a petroleum expert at GasBuddy, told CBS News. The U.S. is the world's largest crude oil producer,
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